Stocks in Play for Nov 3: AOB, NTRI, NVDA

On daily chart below we can see that the stock price had a nice bullish momentum after break above $12.25 area. The resistance line failed to hold the bullish power. The bias is bullish in nearest term testing $12.60. A Break above that area could trigger further upside testing $13.50. By a technical perspective, the stock still trading in a short-term bullish phase and the technical indicators still have some room to run to the upside before hitting overbought conditions. Keep an eye on NVIDIA (NVDA) for a possible breakout over $12.60.

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Shares of NutriSystem Inc. (NTRI) surged 9% to $20.51 per share after posted better-than-forecast results for its fiscal second quarter ended September 30. Looking at the technical chart we can see that the stock broke out of a consolidation range on heavy volume. I’ll be watching the stock again on Wednesday for a continuation of this breakout. The daily chart of NTRI shows a positive MACD crossover with both histograms and RSI moving up nicely.

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American Oriental Bioengineering, Inc. (AOB) is a low volume small cap stock that may be poised to move higher. The stock has been consolidating in the range of $2.60 to $2.8 for the past trading month and could be close to breaking out. The stock faces strong intermediate-term resistance at $2.80 and this level needs to be crossed convincingly to signal a reversal in the long-term trend. The technical chart below shows the stock is in a rally as %K line is on top of %D line. A break above resistance should at least push the stock to $3.20 per share where the 200-day moving average is. Investors can hold the stock with a stop at $2.60.

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Other stocks to watch:

Plug Power Inc. (PLUG) surged 7.45% or 0.03 cents to 0.505 cents per share leaving many investors wondering why the stock was up with no news. The stock traded on huge volume Wednesday providing good liquidity for those that like to trade in and out. Investors with a long-term perspective can buy the stock in declines with a stop at $.47.

Disclaimer: This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don’t consider buying or selling any stock without conducting your own due diligence.

About Antonio Costa 324 Articles

Antonio Costa is a 35 year old part-time trader who trade stocks in the US market.

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